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The Firm’S Patrimony €“ An International Approach

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  • Lucian Constantin Gabriel BUDACIA

Abstract

This article is meant to reinterpret the balance equation of the Patrimony. Any book about the Foundations of Accountancy presents in the chapter “The Object of Accountancy†, the patrimonial equation mentioned above. We state the following affirmation: in the accountancy of a firm, everything is thought over from the point of view of the respective firm. However, this small detail seems to have been overlooked by authors of accountancy manuals when they presented the equation mentioned above. And we observed that this small detail attracted a lot of confusion even among people with many years of experience in accountancy. This article will offer a new point of view regarding the concept of a firm’s Patrimony on an international approach.

Suggested Citation

  • Lucian Constantin Gabriel BUDACIA, 2010. "The Firm’S Patrimony €“ An International Approach," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 5(4(14)/ Wi), pages 311-316.
    • Handle: RePEc:ush:jaessh:v:5:y:2010:i:4(14)_winter2010:p:117
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    More about this item

    Keywords

    accountancy; patrimony; assets; liabilities; owner’s equity;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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